New Delhi: India’s industrial production climbed by 5.8% in September. The good performance by manufacturing, mining and electricity sectors is the main reason for this growth. Data released by the National Statistical Office (NSO) revealed this.
As per the data, factory output measured in terms of the Index of Industrial Production (IIP) had grown 3.3% in September 2022. The IIP grew by 6% in April-September 2023. It was at 7.1% growth a year ago.
Also Read: Loans to become costlier as nationalised Bank hikes lending rates
IIP is an index that details out the growth of various sectors in the economy. The Eight Core Industries comprise more than 40% of the weight of items included in IIP. These Eight Core Industries are Electricity, steel, refinery products, crude oil, coal, cement, natural gas, and fertilizers.
The manufacturing sector’s output grew by 4.5% in September 2023. Mining production rose 11.5% during the month under review. Power output increased 9.9%.
Post Your Comments